Study Guide

Learning outcomes

Student is able to
- understand common mathematical methods used in real business life and when to use them.
- practice critical thinking and handles the problem solving skills.
- find and utilise up to date information.
- find confidence by gaining routine of calculation.

Implementation and methods of teaching

During autumn 2023 there will be an in class implementation of Business Mathematics.

Timing and attendance

The course will start on week 36. Lectures are optional but highly recommended.

Learning material and recommended literature

Liike-elämän matematiikka (Saaranen, Kolttola, Pösö)
Most of the material is translated from this book to English.

Student time use and work load

In Finland one credit point is confirmed to correspond appr. 27 hours of student's studying. This agreement is based on the Bologna process and ECTS (European Credit Transformation System).

Therefore 3 credit points should respond 80 hours of student's studying and 4 credits points correspondently appr 107 hours.

Only part of 80 hours has normally been covered by the contact lessons, so studying in one's own time has been required also earlier, and also during the autumn 2021.
The required amount of studying depends highly on one’s base level of skills, goals and studying technique.

It is highly recommended, that students will study during the whole course, not just in the end on the course or only some topics of the course. Make a schedule, set targets, do the exercises when they are supposed to be done, attend the Teams-meetings, follow the deadlines.

NOTE, even if the course content may sound easy to some of the students, this course can not be handled without studying. This is proven by so many students during the earlier years. So please do not make a mistake of underestimating the level of difficulty of this course. Business Mathematics is not just calculating, it is very much about understanding and being able to link to real life. Good skills in techniques of mathematics aren’t enough.

Contents

- Percentages
- Taxation
- Contribution margin calculation
- Index numbers
- Simple interest
- Compound interest
- Periodic payments
- Credit and loans

Assessment criteria

To pass the course you need to pass the exam (50 %) and return 50 % of the weekly exercises on time.

Assessment scale

1-5

Failed (0)

The student failed to pass the exam or didn't return enough weekly exercises on time.

Assessment criteria: level 1 (assessment scale 1–5)

50 %

Assessment criteria: level 3 (assessment scale 1–5)

70 %

Assessment criteria: level 5 (assessment scale 1–5)

90 %